The Innovation Venture Association (hereinafter referred to as the Innovation Venture Association) announced policy tasks for revitalizing the venture and startup ecosystem ahead of the 21st presidential election on the 13th.
The policy proposal was written in recognition of the overall economic crisis that South Korea is currently facing, and through review by experts and on-site policy demands from venture and startup companies to complete the innovation ecosystem in South Korea.
With the goal of “For the youth and future of the Republic of Korea, venture policy must become the top agenda of national economic policy,” the Korea Venture Business Association selected 150 tasks in four major fields to realize an innovative powerhouse full of entrepreneurial spirit and proposed a plan to revitalize the venture ecosystem.
In addition, the three key tasks for realizing an innovative powerhouse were proposed: ▲mandatory investment in venture and startups by 68 statutory funds ▲reform of the working hour system including the 52-hour workweek system ▲delegation of industrial regulation authority to local governments and the establishment of a 'regulatory innovation standard country' target system.
The Hyukdanhyup plans to do its best to ensure that the major policies proposed this time are actively reflected in the pledges of presidential candidates and realized as key state affairs tasks of the next government.
“Ventures and startups are the true core growth engines of the Korean economy,” said Song Byeong-jun, chairman of the Korea Venture Business Association, which serves as the secretariat of the Korea Venture Business Association. “We will do our best to actively reflect these policy tasks in the presidential election pledges, revitalize the venture and startup ecosystem, and help the Korean economy recover and take a leap forward by joining forces with innovative venture and startup organizations.”
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